[Translation for Reference and Convenience Purposed Only]

June 23, 2010
To All Shareholders:Osamu Watanabe, President
Japan Petroleum Exploration Co., Ltd. (JAPEX)
1-7-12 Marunouchi, Chiyoda-ku, Tokyo

Notification of Resolutions
at the 40th Ordinary General Meeting of the Shareholders
We are pleased to inform you that the following matters were reported and resolved at the 40thOrdinary General Meeting of the Shareholders held on June 23, 2010.
Announcements: 1) Business report and consolidated financial report of the 40th Term (fromApril 1, 2009 to March 31, 2010), and audit reports from the accountingauditor and Board of Corporate Auditors on the consolidated financial
reportJAPEX reported the foregoing items to the shareholders present at themeeting.
2) Financial report of the 40th Term (from April 1, 2009 to March 31, 2010)
JAPEX reported the foregoing items to the shareholders present at themeeting.
Resolution Items:
Item 1: Appropriation of Surplus
This item was approved and adopted as proposed. It was decided to pay the year-end
dividends of 20 yen per share for the 40th Term.
Item 2: Election of Two (2) Directors
This item was approved and adopted as proposed. Accordingly, two (2) Directors,
Nobuaki Moritani and Hitoshi Yamatoya were newly elected and assumed their offices.
Item 3: Election of One (1) Corporate Auditor
This item was approved and adopted as proposed. Accordingly, one (1) Corporate Auditor,
Kisaburo Ikeda was reelected and assumed his office.
Kisaburo Ikeda is an Outside Corporate Auditor.
Item 4: Awarding Retirement Benefits and Condolence Money to Retiring Directors
This item was approved and adopted as proposed. Consequently, retirement benefits orcondolence money shall be awarded to retiring Directors Tadatsuna Koda, Yoichi Ohta,
Nobuzo Ichikawa, Masaki Hattori and the late Chikao Yoshida according to the standards
specified by JAPEX in recognition of services during their tenure, and the specific amount,period and method of payment, etc. shall be entrusted to deliberation of the Board ofDirectors.
Item 5: Payment of Bonuses to Directors and Corporate Auditors
This item was approved and adopted as proposed. A total amount of bonus of 87,000,000yen (82,383,000 yen to Directors, 4,617,000 yen to Corporate Auditors) will be paid.

-1-[Translation for Reference and Convenience Purposed Only]------------------------------------------------------------------------------------------------------------------------At the Meeting of the Board of Directors held after the 40th Ordinary General Meeting of theShareholders was closed, Representative Directors, Directors with Titles and Executive Officers
were elected and assumed offices as follows.
Representative Director- Executive Vice PresidentManaging Director
Managing Director
Managing Executive Officer
Managing Executive Officer
Executive Officer
Executive Officer
Executive Officer

Executive Officer
Executive Officer
Executive Officer

Hiroshi Sato
Nobuaki Moritani
Hitoshi Yamatoya
Kiyoshi Ogino
Koji Sakuma
Shigeru Mitsuya
Yasuhiro Masui
Kazuhiko Ohzeki(Senior Managing Director)(Managing Executive Officer)(Managing Executive Officer)(Executive Officer)(Executive Officer)------------------------------------------------------------------------------------------------------------------------<Dividend Payments>
Shareholders who have requested that dividend payments be made by transfer to a bank orother financial institution are asked to confirm the enclosed documents to receive the dividend.
Shareholders who have not requested that divided payments be made by transfer to a bankor other financial institution may receive their dividend payments at their nearby branch of JAPANPOST BANK Co., Ltd. and post office (banking agency) as indicated in the enclosed Receipt ofYear-end Dividends. The period for receiving payment is from June 24, 2010 to July 26, 2010.

-2-